DiamondBuzz
The right time to Increase De Beers stake: Botswana’s mines minister
Botswana’s mines minister Bogolo Kenewendo says it’s “absolutely” the right time to discuss the government increasing its 15 per cent stake in De Beers.
She indicated that Anglo American, which owns the other 85 per cent of De Beers, was moving closer to an initial public offering (IPO) and that Botswana was pushing for a larger stake.
Anglo announced last week that it was likely to write down the value of De Beers from its current $7.6bn, as a result of persistent weak diamond demand, especially in China.
Botswana’s diamond, which accounts for over 70 per cent of the country’s export earnings, has been severely hit by the global slump in demand.
In the last nine months of 2024 Debswana – its 50/50 joint venture with De Beers it sold $1.53bn of rough, down 52 per cent on the same period in 2023.
DiamondBuzz
Russian President Putin Backs New Federal Regulations Governing LGD Labeling
Putin emphasized that stones formed by nature must remain the bedrock of the global diamond industry
Russian President Vladimir Putin has thrown his political weight behind strict new federal regulations governing how lab-grown diamonds are marketed and sold, signaling Moscow’s determination to shield its mined diamond sector from synthetic competition.
Speaking at the Russia-Africa summit in Moscow, Putin aligned himself with Finance Minister Anton Siluanov, emphasizing that stones formed by nature must remain the bedrock of the global diamond industry,
Addressing arguments from synthetic producers—who frequently contend that lab-grown stones are indistinguishable from mined gems in appearance and quality and therefore warrant comparable pricing—Putin pushed back against equating the two products.
He defended the Kremlin’s regulatory intervention, arguing that because synthetic stones are man-made, authorities are justified in prohibiting sellers from labeling them as diamonds in the literal sense of the word.
The president’s remarks reinforce a sweeping regulatory overhaul codified under Government Resolution No. 657. Taking effect on September 1, the rules mandate that all lab-grown stones be explicitly marketed as “faceted synthetic diamonds.”
Beyond renaming the category, the decree strips synthetic sellers of traditional luxury jewelry terminology. Retailers and manufacturers are barred from using the Russian word for “brilliant,” applying standard color and clarity grading scales, or deploying marketing descriptors such as “precious,” “genuine,” “natural,” “mined,” and “eco-friendly” when promoting lab-grown gems.
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